Credit & Collection Manager

Date Posted: 2024-08-29

Country: United Arab Emirates

Location: Otis L.L.C, 37th floor, The One Tower, Sheikh Zayed Road, Dubai, United Arab Emirates

Job Title

Credit & Collection Manager, Gulf

Role Overview

• The role holder shall manage a regional credit & collection function & team covering UAE, KWT & Qatar to ensure proper credit assessment & granting process as well as timely collection of dues (Amicably, debt collection & Legal).
• The role holder shall carry out his duties in accordance with the stipulated Credit & Collection policies and procedures.
• The role holder is responsible for conducting due diligence on accounts and managing the credit risk within operational limits and follow up on dues, highlighting the potential credit risks to the Otis management for immediate action.
• The role holder is responsible for overseeing the whole process of reserve reduction, ensuring the forecasted plans & targets for each country’s risk is achieved.
• Communicates issues and problems related to aging reports, invoicing, disputes, provisions and collections to management.

On a typical day you will:

• Track on-time reporting of invoice submission with the required documents per each customer and disputes resolution with weekly tracking and coordination with interconnected department heads.
• Review accounts receivable records and identify discrepancies in billing or collections activities.
• Ensure updated statements of account are shared with all customers on a monthly basis.
• Ensure dunning letters are sent to customers on time and suspension & cancellation is carried out according to the Credit Policy.
• Monitor trends in customer accounts to identify potential risk factors such as missed payments and report it to management on a monthly basis to prevent additional services to be performed on a defaulting account.
• Set the monthly collection targets, monitoring the evolution of the actual achievements & monthly collectors’ evaluation (Targets vs Actual).
• Review, conduct due diligence and analyses for all customers & documentation (Official Documents & KYC form), in addition to creating the required reporting & archiving of documents & special approvals.
• Conduct visits to customers if and whenever needed to follow-up on customers’ payment commitments.
• Review accounts to determine whether they should be written off as uncollectible.
• Conduct bad debt provision analysis, action plan to reduce with proper classification & responsibility.

What You Will Need to be Successful:

• Bachelor’s degree in Finance/Accounting or equivalent.
• 7-10 years of relevant experience handling a team of credit controllers & collectors for a portfolio of not less than 1000 customers & $30m of annual billing.
• International Credit & Collection Certification will be considered an added value.
• Organize and supervise the activities of the regional credit & collection team in a manner that supports self-management and continuous improvement.
• Provide coaching, formal and informal feedback to team members in order to support their continuous development.
• Fluent written and spoken English; Arabic is an advantage.

Nature of Experience:

• Credit & collection operation skills.
• Proven record of handling credit & collection team.
• Proven record of collection targets forecasting & collectors’ evaluation KPIs.
• Proven record of portfolio management & distribution.
• Proven record of using collection follow-up systems (Not Excel).

People Management:

• Organize and supervise the activities of the regional credit & collection team in a manner that supports self-management and continuous improvement.
• Provide coaching, formal and informal feedback to team members in order to support their continuous development.
• Ability to connect with management, department heads, different stakeholders & customers on a daily basis and maintain strong ongoing relationships to facilitate smooth processes & timely collections.

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Otis is the world’s leading elevator and escalator manufacturing, installation, and service company. We move 2 billion people every day and maintain approximately 2.2 million customer units worldwide, the industry's largest service portfolio.

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